Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Should You Buy?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $56.6999, but opened at $58.92. Grupo Financiero Banorte SAB de CV shares last traded at $54.72, with a volume of 943 shares traded.

Grupo Financiero Banorte SAB de CV Trading Up 1.4%

The stock has a market capitalization of $32.35 billion, a PE ratio of 9.69, a PEG ratio of 1.25 and a beta of 0.70. The stock’s 50 day moving average price is $54.98 and its 200-day moving average price is $55.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.25%. On average, sell-side analysts expect that Grupo Financiero Banorte SAB de CV will post 6.46 earnings per share for the current fiscal year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is a major Mexican financial services holding company headquartered in Monterrey, Mexico. The group operates a universal banking franchise that serves retail, small and medium-sized enterprises, and large corporate clients across Mexico. Banorte provides a broad suite of banking services through an extensive branch network and digital channels and maintains an international investor presence, including ADRs that trade on the U.S. OTC market under the symbol GBOOY.

Banorte’s core businesses include retail and commercial banking—offering deposit accounts, payment and cash management services, consumer and mortgage loans, credit and debit cards, and lending to corporate clients.